1. Preserving Affordable Housing near Transit Sarah Kline Policy Director, Reconnecting America Solutions for Sustainable Communities: 2011 Learning Conference on State and Local Housing Policy September 26, 2011

2. What is Reconnecting America? Reconnecting America is a national nonprofit that advises civic and community leaders on how to overcome the challenges associated with community development, to create better communities for all. Reconnecting America not only develops research and innovative public policy, we also build on-the-ground partnerships and convene the players necessary to accelerate decision-making. © 2011 Reconnecting America. 2

3. Our partners: Creating a national marketplace for TOD, working with cities, transit agencies, developers, investors & communities Improving practice through technical assistance, research & policy reform On-line clearinghouse of TOD best practices Coalition with over 500 members Campaign focused on the next federal transportation bill Goal: federal transportation investments that are economically sound, respond to markets, and improve people’s lives © 2011 Reconnecting America. 3 3

5. jobs

6. restaurants

7. entertainmentPeople living within a half-mile radius are 5 times as likely to walk to a major transit stop than others. 4 © 2011 Reconnecting America.

8. Benefits of Transit-Oriented Development Economic Development and Competitiveness Community Revitalization Improved Health and Safety Reduced Carbon Emissions Household Budget Savings 5 © 2011 Reconnecting America.

9. Benefits of Transit-Oriented Development Neighborhoods with transportation choices save households money. 6 © 2011 Reconnecting America.

10. Mixed-Income Transit-Oriented Development 7 © 2011 Reconnecting America.

11. Demand Growing for Housing Near Transit Demand for housing near transit will represent at least 1/4 of the US housing market by 2030 – 15 million renters and buyers 8 © 2011 Reconnecting America.

13. More than half of future TOD demand will come from households earning less than area median incomeEnsuring continued affordability requires proactive housing preservation. 9 © 2011 Reconnecting America.

14. 2009 Report: Mapping Affordable Housing near Transit Sponsored by AARP Authored by AARP, the National Housing Trust, and Reconnecting America Looked at 20 metro areas Focused on federally-subsidized housing, including project- based Section 8 and Section 202/811, within ½ mile of transit 10 © 2011 Reconnecting America.

15. Affordable Housing Well-Served in Some Cities… 11 © 2011 Reconnecting America.

16. …But Less Served in Others 12 © 2011 Reconnecting America.

17. Overall, Many Affordable Units Are Near Transit More than 250,000 affordable apartments are in walking distance of quality transit. Project-based Section 8 and 202 Housing 36% 64% 13 © 2011 Reconnecting America.

18. But Affordable Housing Is At Risk Potentially at Risk Housing Approximately 70% of apartments near transit are covered by housing contracts expiring in the next five years. Project-based Section 8 and 202 Housing 31% 69% 14 © 2011 Reconnecting America.

20. But federal, state, and local funding for transit is constrained

21. More than 85% of transit systems across the U.S. have cut service or raised fares in the past three years15 © 2011 Reconnecting America.

22. Challenges of Preservation Near Transit More demand than supply raises land prices near transit Funding for preservation is limited, and financing can be complex and challenging Transit service and housing markets vary within regions Lack of integration in housing, transportation & land use planning 16 © 2011 Reconnecting America.

24. Allocate resources toward preserving affordable housing in transit-rich neighborhoods.17 © 2011 Reconnecting America. Source: DART

25. States Using LIHTC to Encourage Affordable Housing Near Transit 18 © 2011 Reconnecting America.

26. 2010 Report: Strategies for Preserving Affordable Housing Near Transit Authored by Enterprise, the National Housing Trust, and Reconnecting America Examines way in which communities are addressing preservation challenges Case Studies in areas with planned transit expansions: Atlanta Denver Seattle Washington, D.C. 19 © 2011 Reconnecting America.

27. 2010 Report: Key Findings Cities, developers, CDCs, and tenants are: Leveraging new sources of capital subsidy, local zoning incentives and pooled financing Seeking flexible acquisition financing to hold properties until financing is available Securing existing unsubsidized rental housing near planned transit before land value rises Engaging in collaboration with housing, transit and planning agencies 20 © 2011 Reconnecting America.

30. 22 © 2010 Reconnecting America. Interactive Tools to Promote MITOD Housing and Transportation Affordability Index www.htaindex.cnt.org Mixed-Income Transit-Oriented Development Action Guide www.mitod.org National TOD Database www.toddata.cnt.org

31. Conclusion True affordability and access to opportunity comes with mixed-use communities served by high-quality public transportation that takes people where they want to go. Significant affordable housing exists today near transit, and should not be lost. Preservation of affordable housing near transit should be a focus at the federal, state, and local level. 23 © 2011 Reconnecting America.

32. Thank you! Sarah KlinePolicy Director Reconnecting AmericaEMAIL: skline@reconnectingamerica.orgPHONE: 202.429.6990 ext.202 Visit us at www.ReconnectingAmerica.org Twitter@reconnecting YouTube reconnectingamerica Flickr ractod Find us on Linked In Facebook